SUN TV (1W TF) - Swing Trade Analysis given on 11th April, 2024
Pattern: AT WEEKLY RESISTANCE
- Volume Buildup at Weekly Resistance - Done ✓
- Strong Support at Weekly Demand Zone - Done ✓
- Weekly Resistance Breakout - In Progress
- Demand Zone Retest & Consolidation - In Progress
* Disclaimer
#suntv #niftymedia
decent valuation
price forming a bullsih bar engulfing previous 3 day candles with huge volume
price crossing all the EMAs with heavy volumes
target and SL marked
#SunTV seems to be ready for massing breakout..
- BO done
- Retracement done
- Massive volume spike done.
P.S : I'm not SEBI registered. This post is only for education purpose. No BUY No SELL reco
Sun TV Network (SUNTV) is showing promising signs of a potential breakout on the horizon. The stock has been consolidating within a channel pattern, and a breakout above the key resistance level at 627 could pave the way for further upside potential.
Technical Analysis:
Channel Consolidation: SUNTV has been trading within a defined channel pattern, indicating a...
1. Trend bullish
2. Strength: strong
3. 2nd attempt to run upside with falling wedge set up
4. RR: 1:10
5. Price is come to demand zone after first entry so risk can be smaller worth taking with 10 times reward
Good buy in SUN TV Network.
BUY : At the range of 416-420.
Stop Loss : Put stop loss of 400.
Targets : 450/480/515/560.
Reason to buy : Good support from the lower range of 400-416.
HAMMER candle at the bottom on weekly basis.
Falling wedge pattern.(Bullish Sign.)
Very Good Risk...
There are many things you can see on the chart. First thing first, at present double-bottom chart pattern is forming on the daily timeframe. Apart from the double-bottom pattern, there is a bullish RSI divergence on the chart and that zone is now acting as a support which earlier was a resistance.
The stock is currently approaching its potential support level placed around 600, where the 38.2% FR level and previous key peak of 612 coincide.
The Weekly RSI is also testing its Oversold zone of 48-44 formed during bullish phase.
If 600 level holds, stock could resume its up-move to test 900.
Stock Name-SUNTV
.
Here you clearly see a Harmonic Pattern ABCD is activated.
.
The B point is break with a heavy volume, which shows the strength in this stock.
.
The next candle after the breakout is made an inside candle & after that it breaks upside, which shows it continues to the previous trend only if it closes above the previous candle this month.
.
(Best...
The stock is looking very strong on the weekly charts and it has completed the retest post breakout today and is getting ready for another big move. One can look to buy on CMP or add on dips till the levels of 590-600 for targets of 740-840-920 on a positional basis with a stop loss of 530 on weekly closing basis.
NOTE: NOT SEBI REGISTERED. THIS IS NOT AN...
SUN TV is showing trendline Breakout with good amount of Volume. fundamental is also looking good. Since 2018 it was showing a LH--LL formation but as per looking on chart the trend has change and after consolidation, it is making HH--HL on monthly chart. This is a good sign..
CMP : 605
TG : 900
SL : Below 9 weekly EMA
Stock's selection based on 5 Point...
Attached is the chart of Sun TV and planted on it is my Life Time Indicator. Before discussing this chart, I have some important points to discuss with you in general. Some one has asked for the analysis of Sun TV and I appreciate it, this is the only way we can learn. Please do not hesitate to ask any question, I will try to answer all the valid questions....
![SUNTV: [Swing Trade] SunTv 630](https://s3.tradingview.com/e/egx5VJdY_mid.png "[Swing Trade] SunTv 630")
